Saturday, December 15, 2007


A few charts

I'm still not sure which way the market is heading. There are a few big names reporting this week which could give this market some direction...

Here are a few charts, most of them from the IBD 100 list.

LIFC could be getting support around the 44ish area.

I don't follow IRM, but j.M, a regular reader, does. It could be getting some support around the 36ish area. If it bounces from here and breaks 38ish, it might be a cup and handle.

POT could be getting some support around the 124 area. I'll try to be patient with this one, maybe let it base a little here. If it breaks this area of support, it could head much lower.


AJ..I also track the IBD 100 and keep track of those stocks with a industry group ranking of 40 or less. How do you determine which IBD 100 stocks you are going to track?
There are a few stocks that I trade often.. for egs POT, AAPL etc, so I tend to keep alerts that let me know if they've crossed a particular level etc.
But most of the times I just visually scan the charts in the list, and if I feel that a stock is ready to break out if it's pulling back to support, I'll study the chart online and figure out if I should track it or not.

Let me know if you like any charts in the IBD list.

I've been watching SLT, but just have not pulled the trigger on this yet. I like the fact they are a two-for-one (metals and India).

i appreciate you throwing IRM up there. it looked pretty good given the tape today.
i didn't even make a watch list for this week. i'm moving from Boston to Philly which has been consuming my time but more important my 'system' (or lack there of) only works in a bull market, which this is definitely not. i'm holding most of my IRA money in a bond ETF right now until i can find a good system for puts/shorts.

any ideas for short plays? i like to do the same for short as i do long...find a trend and ride it. sell low, buy lower.

Good luck on SLT. Is this a trade or long term hold?

Good luck with your move to Philly. I'm not very comfortable going short right now, since the market looks a little oversold to me. I, personally, would wait for the market to go up a little more before going short.

I got into SLT for a longer term play, however if the price goes up too quick or I'm up and I think the market will drop, I will sell to lock in profits.
Post a Comment

Links to this post:

Create a Link

<< Home

This page is powered by Blogger. Isn't yours?